NUGT vs. SGOL
NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and SGOL (abrdn Physical Gold Shares ETF) are both Gold funds - NUGT tracks the MarketVector Global Gold Miners Index (200%) while SGOL tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, NUGT returned -11.63%/yr vs 11.79%/yr for SGOL. A 0.76 correlation means they provide meaningful diversification when combined. NUGT charges 1.13%/yr vs 0.17%/yr for SGOL.
Performance
NUGT vs. SGOL - Performance Comparison
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Returns By Period
In the year-to-date period, NUGT achieves a -32.09% return, which is significantly lower than SGOL's -4.70% return. Over the past 10 years, NUGT has underperformed SGOL with an annualized return of -11.63%, while SGOL has yielded a comparatively higher 11.79% annualized return.
NUGT
- 1D
- -9.53%
- 1M
- -19.60%
- YTD
- -32.09%
- 6M
- -39.03%
- 1Y
- 60.88%
- 3Y*
- 55.65%
- 5Y*
- 17.04%
- 10Y*
- -11.63%
SGOL
- 1D
- -1.86%
- 1M
- -8.83%
- YTD
- -4.70%
- 6M
- -8.63%
- 1Y
- 21.55%
- 3Y*
- 28.71%
- 5Y*
- 18.11%
- 10Y*
- 11.79%
NUGT vs. SGOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -32.09% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
SGOL abrdn Physical Gold Shares ETF | -4.70% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
Correlation
The correlation between NUGT and SGOL is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | 0.76 |
The correlation between NUGT and SGOL has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
NUGT vs. SGOL — Risk / Return Rank
NUGT
SGOL
NUGT vs. SGOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) and abrdn Physical Gold Shares ETF (SGOL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NUGT | SGOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 0.89 | +0.08 |
| Martin ratioReturn relative to average drawdown | 2.30 | 2.38 | -0.08 |
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Drawdowns
NUGT vs. SGOL - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, which is greater than SGOL's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for NUGT and SGOL.
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Drawdown Indicators
| NUGT | SGOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -45.51% | -54.46% |
Max Drawdown (1Y)Largest decline over 1 year | -63.43% | -24.37% | -39.06% |
Max Drawdown (3Y)Largest decline over 3 years | -63.43% | -24.37% | -39.06% |
Max Drawdown (5Y)Largest decline over 5 years | -73.72% | -24.37% | -49.35% |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | -24.37% | -72.54% |
Current DrawdownCurrent decline from peak | -99.84% | -23.85% | -75.99% |
Average DrawdownAverage peak-to-trough decline | -91.53% | -18.42% | -73.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.52% | 9.06% | +17.46% |
Volatility
NUGT vs. SGOL - Volatility Comparison
Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) has a higher volatility of 35.11% compared to abrdn Physical Gold Shares ETF (SGOL) at 8.11%. This indicates that NUGT's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUGT | SGOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.11% | 8.11% | +27.00% |
Volatility (6M)Calculated over the trailing 6-month period | 80.35% | 24.14% | +56.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.31% | 27.28% | +67.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.94% | 18.13% | +54.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.97% | 16.00% | +71.97% |
NUGT vs. SGOL - Expense Ratio Comparison
NUGT has a 1.13% expense ratio, which is higher than SGOL's 0.17% expense ratio.
Dividends
NUGT vs. SGOL - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.44%, while SGOL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.44% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NUGT and SGOL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUGT has higher volatility (35.11%) compared to SGOL (8.11%). In terms of maximum drawdown, NUGT dropped -99.97% vs SGOL's -45.51%.
On 10-year performance, SGOL leads with 11.79% vs -11.63% for NUGT. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGOL has performed better with a 11.79% return vs -11.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOL is cheaper with a 0.17% expense ratio, compared with 1.13% for NUGT.
NUGT has the higher dividend yield at 0.44%, compared with 0.00% for SGOL.
NUGT tracks MarketVector Global Gold Miners Index (200%), while SGOL tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: Direxion and abrdn. Their fees differ too: 1.13% for NUGT and 0.17% for SGOL.
SGOL currently has the higher Sharpe Ratio (0.79 vs 0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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